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2013 (10) TMI 885

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..... he Commissioner in the Order has made categorical finding whereby he recorded and analyzed the evidences in arriving at conclusion that the Applicant had availed the CENVAT Credit on various invoices without receiving the materials in their factory - Prima facie, the result of analysis of evidences by the ld. Commissioner are convincing and the Applicant could not rebut those evidences by way of f .....

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..... sonal penalty of Rs.5.00 lakh on Shri L.K.Sureka, Director under Rule 15 of the CENVAT Credit Rules, 2004 read with 26 of the Central Excise Rules, 2002. The matter appeared before this Tribunal on 16.07.2013 and there was a request for adjournment and accordingly, the matter was adjourned to 02.08.2013 and the notice was issued on the same day to the Applicant. Today, neither any one is present f .....

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..... es on record has come to a categorical finding that the Applicant had erroneously availed the CENVAT Credit of Rs.77.40 lakh shown to have been received by them from M/s. IDCOL Kalinga Iron Works Pvt. Ltd. by falsifying the records, but in fact not received and utilized in the manufacture of finished goods. It was only a paper credit. 3. We have carefully considered the submission of the ld. AR .....

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..... umstances, we direct the Applicant No.(1), M/s. Burdwan Iron Steel Co. Limited to deposit 50% of the duty involved within a period of eight weeks from the date of communication of this Order and report compliance on 21.10.2013. On compliance, predeposit of the dues adjudged would be waived against all the Applicants and its recovery would be stayed during pendency of the Appeals. Failure to depo .....

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